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Old 04-09-2018, 06:11 PM
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Join Date: Apr 2018
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Getting penalized - Marketplace Insurance Bronze plan

I had coverage the entire year of 2017, but I chose the Bronze plan because it met my needs better and was more affordable. My wife got a raise and we finished the year with several more thousand in income. I believe that I am getting penalized in both areas (income and bronze vs silver plan).

Bottom line, I couldn't afford Silver coverage and I feel that I am getting penalized for having bronze coverage instead of silver and for incorrect income estimation.

My question, is there a way to get an exception for the unable to afford the difference in the bronze and silver coverage. I am not disputing the income difference, I understand that part.

Thanks



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Old 04-10-2018, 11:23 AM
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Join Date: Oct 2010
Posts: 5,116
I think it depends; Ifyou, as a recipient, end up earning more than anticipated, you have to pay back some of the subsidy. This can catch you off guard, especially since the tax credits are paid directly to you, the insurance carrier, but if overpaid, you must be returned by the insured yourself



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Old 04-10-2018, 03:02 PM
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Join Date: Apr 2018
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I earned the same exact amount, because it's LTD payments
My wife earned several thousand more, like 5k more than last year.
At the time we signed up for coverage, we couldn't afford the $250 per month premium at the silver plan level.
So, I chose the bronze plan because it was $40 per month and the copays for pcp and specialist matched exactly what we needed.
When I go to do the taxes and enter the info from the paperwork, it bases the amount you pay in taxes based on the silver plan and how much you earned.
Thus the penalty for the difference in the plans and the income (wife)
That's why I wanted to know if and how I could get an unable to afford exception.



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Old 04-11-2018, 03:03 AM
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Join Date: Oct 2010
Posts: 5,116
Quote:
Originally Posted by bdhobbs1 View Post
I earned the same exact amount, because it's LTD payments
My wife earned several thousand more, like 5k more than last year.
At the time we signed up for coverage, we couldn't afford the $250 per month premium at the silver plan level.
So, I chose the bronze plan because it was $40 per month and the copays for pcp and specialist matched exactly what we needed.
When I go to do the taxes and enter the info from the paperwork, it bases the amount you pay in taxes based on the silver plan and how much you earned.
Thus the penalty for the difference in the plans and the income (wife)
That's why I wanted to know if and how I could get an unable to afford exception.
The documentation needed to prove your life change may vary by state and by individual insurer. consumers have been asked to attest to their change in circumstances without providing documentation. However, requirements could changeFrankly I m am not quite sure if there may be some administrative problem or etc; I guess you may need to contact the Plan Admin



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